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REGISTERED NUMBER: 00201364 (England and Wales)





AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

THE BLACKMOOR ESTATE LIMITED

THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE BLACKMOOR ESTATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: The Hon. T.J. Palmer
Lord Selborne
Ms V.E Baum
P Cherry



SECRETARY: Ms V.E Baum



REGISTERED OFFICE: Estate Office
Blackmoor
Liss
Hampshire
GU33 6BS



REGISTERED NUMBER: 00201364 (England and Wales)



AUDITORS: Martin and Company Audit Limited
Chartered Accountants
and Statutory Auditors
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ



SOLICITORS: Messrs Godwins
12 St Thomas Street
Winchester
Hampshire
SO23 9HF

THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364)

BALANCE SHEET
30TH JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 17,224 3,235
Tangible assets 5 29,226,917 29,016,020
Investments 6 187,641 188,801
29,431,782 29,208,056

CURRENT ASSETS
Stocks 827,385 650,994
Debtors 7 342,413 350,298
Cash at bank and in hand 1,017,946 1,218,314
2,187,744 2,219,606
CREDITORS
Amounts falling due within one year 8 621,424 488,346
NET CURRENT ASSETS 1,566,320 1,731,260
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,998,102

30,939,316

CREDITORS
Amounts falling due after more than one
year

9

(3,626,333

)

(3,679,983

)

PROVISIONS FOR LIABILITIES (2,500,000 ) (2,500,000 )
NET ASSETS 24,871,769 24,759,333

CAPITAL AND RESERVES
Called up share capital 22,400 22,400
Revaluation reserve 11 25,075,761 25,075,761
Retained earnings (226,392 ) (338,828 )
SHAREHOLDERS' FUNDS 24,871,769 24,759,333

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th March 2024 and were signed on its behalf by:




Lord Selborne - Director


THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023


1. STATUTORY INFORMATION

The Blackmoor Estate Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is the net amount invoiced for goods or services, excluding value added tax. In the Estate, turnover from rental of land and buildings, whether invoiced in advance or in arrears, is recognised across the period it is receivable.

Sales of fruit are recognised on receipt of the self billing invoice from the fruit packing agent.

In the Nursery, sales of trees and plants are recognised when the goods are despatched to the customer.

In the Farm turnover is recognised once the crop is harvested and sold.

Cider sales are recognised when the goods are despatched to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

BPS entitlements are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the assets capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land - nil
Freehold buildings - 0.5% straight line, 5% straight line and 25% straight line
Plant and machinery etc - 25% straight line

The depreciation policy for freehold property was changed during the year from 0.5% to 5% straight line and 25% as the directors feel this more accurately reflects the estimated useful lives of the freehold property held.

THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


2. ACCOUNTING POLICIES - continued

Stocks
In the Farm and Orchard amounts spent in preparing land and trees for future seasons and crops - including seeds, fertilisers and labour are called tillages. These are treated as stock and valued at cost.

In the Nursery certain plants are grown on for a number of years before being sold. The initial cost of these plants is increased each year by the estimated cost of spraying, pruning etc.

All other items are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government grants receivable in respect of revenue items are credited to the profit and loss account in the period in which they become receivable.

Government grants receivable in respect of capital expenditure is deducted from the purchase price or development cost of the related asset.

Investments
Unlisted investments are included at cost less impairment where it is not possible to measure fair value reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st July 2022 - 3,235 3,235
Additions 22,600 - 22,600
At 30th June 2023 22,600 3,235 25,835
AMORTISATION
Charge for year 7,533 1,078 8,611
At 30th June 2023 7,533 1,078 8,611
NET BOOK VALUE
At 30th June 2023 15,067 2,157 17,224
At 30th June 2022 - 3,235 3,235

THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st July 2022 30,090,775 613,952 30,704,727
Additions 224,975 213,988 438,963
At 30th June 2023 30,315,750 827,940 31,143,690
DEPRECIATION
At 1st July 2022 1,270,337 418,370 1,688,707
Charge for year 132,295 95,771 228,066
At 30th June 2023 1,402,632 514,141 1,916,773
NET BOOK VALUE
At 30th June 2023 28,913,118 313,799 29,226,917
At 30th June 2022 28,820,438 195,582 29,016,020

Included in cost or valuation of land and buildings is freehold land of £ 13,259,572 (2022 - £ 13,259,572 ) which is not depreciated.

Cost or valuation at 30th June 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost 30,315,750 827,940 31,143,690

6. FIXED ASSET INVESTMENTS

30.6.23 30.6.22
£    £   
Other investments not loans 461 1,621
Other loans 187,180 187,180
187,641 188,801

THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


6. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Other
investments
£   
COST OR VALUATION
At 1st July 2022 1,621
Disposals (50 )
Impairments (1,110 )
At 30th June 2023 461
NET BOOK VALUE
At 30th June 2023 461
At 30th June 2022 1,621

Cost or valuation at 30th June 2023 is represented by:

Other
investments
£   
Cost 461
Other
loans
£   
At 1st July 2022
and 30th June 2023 187,180

The other loans relate to loans made to staff. None of these staff are, or have been directors at any time.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 108,446 63,893
Other debtors 233,967 286,405
342,413 350,298

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 123,206 117,802
Hire purchase contracts 9,236 -
Trade creditors 170,596 121,589
Taxation and social security 46,972 50,992
Other creditors 271,414 197,963
621,424 488,346

THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 3,572,479 3,599,983
Hire purchase contracts 13,854 -
Other creditors 40,000 80,000
3,626,333 3,679,983

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable by
instalments in more than 5
years 3,063,809 3,097,198
3,063,809 3,097,198

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 3,695,685 3,717,785
Hire purchase contracts 23,090 -
3,718,775 3,717,785

The bank loans are secured by way of a mortgage deed over specific properties and land owned by the company.

11. RESERVES
Revaluation
reserve
£   
At 1st July 2022
and 30th June 2023 25,075,761

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Barr FCA (Senior Statutory Auditor)
for and on behalf of Martin and Company Audit Limited

THE BLACKMOOR ESTATE LIMITED (REGISTERED NUMBER: 00201364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


13. CAPITAL COMMITMENTS
30.6.23 30.6.22
£    £   
Contracted but not provided for in the
financial statements 122,275 -

14. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £133,439 (2022: £18,397).

15. POST BALANCE SHEET EVENTS

The company had entered into a joint venture in the year. On the 1st July 2023 Blackmoor transferred all of the assets to Countryside Logs Limited which ceased the joint venture in return for 25% share capital in Countryside Logs Limited.

16. DEFERRED TAX

A deferred tax asset of £401,000 (2022: £393,000) has not been provided for as it is not considered likely that sufficient taxable profits to recover the asset will be generated in the foreseeable future.